VMIX Announces Success of Series-B Funding

SAN DIEGO, Jan. 4 /PRNewswire/ -- VMIX Media, Inc., the online media platform that bridges the gap between creators, brands, and distributors, announced the successful gain of Series-B funding from Mission Ventures and Enterprise Partners Venture Capital, among the most successful and active investors in California. At a time when other user generated and social networking sites are struggling to drum up financial support, VMIX proudly continues its financial relationship with their current investors.

"VMIX is proud to have fiscal support from such a reputable and respected groups as Mission Ventures and Enterprise Partners," said Greg Kostello, CEO and founder of VMIX. "We experienced tremendous user growth in 2006 as well as significant partner relationships and will use this funding to augment that growth in 2007."

"VMIX has shown longevity in a highly competitive field. They have a comprehensive plan for the future of their business and we believe they will implement that plan effectively in 2007," said Robert Kibble, managing director at Mission Ventures. "VMIX is committed to building the next generation of online business and entertainment and we support them in that endeavor."

VMIX has expanded rapidly since it first received funding from Mission Ventures and Enterprise Partners in March of 2006. Since then VMIX has cultivated a user base and boasts more than 1.3 million unique visitors per month. Moreover, according to a 2006 Nielsen's Net//Ratings Report, VMIX was among the top five user generated content sites.

"VMIX offers consumers and businesses alike a stake in the creation and distribution of content. This dynamic business model, coupled with an innovative approach to interactive media, has made VMIX the success it is today," said Carl Eibl, managing director of Enterprise Partners. "The founders of VMIX have an impressive track record in the fields of entertainment and Web 2.0 along with a stellar roster of partners that includes top studios and entertainment brands."

Since November 2005, VMIX has teamed up with partners to enable their audiences to interact and build a creative community around user-generated content combined with popular copyrighted content from major entertainment companies like Fox Home Entertainment, Sony Pictures, Warner Bros. and Bravo TV. Content and white-label partnerships for businesses and other major brands have established VMIX as a prominent online source for the most sought-after interactive entertainment assets.

About Mission Ventures

Mission Ventures helps build successful enterprises in Southern California and creates superior returns on investment for its investors. This is accomplished by investing in the most promising early-stage companies in high growth, emerging markets, and providing significant assistance to those companies as they develop. The Partnership brings value-added capital, experience, management talent, and guidance to the most outstanding and innovative ideas and entrepreneurs in the region.

About Enterprise Partners Venture Capital

Enterprise Partners was founded in 1985 and is the largest venture firm headquartered in Southern California. Since its founding, the firm has invested in more than 155 companies, representing over $1.1 billion and currently has $750 million in active capital under management. Enterprise focuses on seed, early stage and promising later stage companies across a broad spectrum of technologies and the life sciences. During the past two years, the firm has invested in seventeen new companies and has realized eight acquisitions and two IPOs. The firm is investing its sixth fund.

About VMIX Media, Inc.

VMIX is the answer for the participation generation. More than a convenient medium to upload and view consumer-generated videos on the Web, VMIX sets itself apart by powerfully combining branded content and licensed music to enable users to bridge the gap between creators, brands, and distribution channels. Since its inception VMIX continues to build a strong creative community while screening out objectionable content and pornography. Created by executives from Universal Music Group, Fox studios, Apple Computer and MP3.com, VMIX, is poised to be the undisputed leader in the evolving online video market with user generated content, new technologies, branded entertainment, and licensed music. For more information, visit http://www.vmix.com/.